Better throw open the windows and get some ventilation theres fumes or something where you are.
Problem stems from the fact that unions have been able to legally extort compensation WELL in excess of their value or importance. Executive pay is a drop in the bucket.
Those minions were pulling in 68K back in 1984 working 36 hours/wk with a pension and health/welfare plan youd kill for.
Chickens coming home to roost. Thats my opinion.
but not yet to government employees and members of congress
If these contracts were inherently uneconomical management had a duty, along with the stockholders through their representation on the Board, to refuse the agreement.
It takes two to engage in this and, though I don't like Unions in general, I do not excuse management for their turpitude and, in the final fling of paying themselves, from the accusations of fraudulent behavior.
Perhaps, sounds like they were their own fox in the chicken coop.
And how much were "the brass" pulling down? I would wager a heck of alot more, and who says they're worth it? I don't think the bankruptcy was the "minions" fault . . .